Market Cap: $2.6182T -5.950%
Volume(24h): $127.896B 49.740%
  • Market Cap: $2.6182T -5.950%
  • Volume(24h): $127.896B 49.740%
  • Fear & Greed Index:
  • Market Cap: $2.6182T -5.950%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top News
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
bitcoin
bitcoin

$83571.608249 USD

-1.38%

ethereum
ethereum

$1826.028236 USD

-3.02%

tether
tether

$0.999839 USD

-0.01%

xrp
xrp

$2.053149 USD

-2.48%

bnb
bnb

$601.140115 USD

-0.44%

solana
solana

$120.357332 USD

-3.79%

usd-coin
usd-coin

$0.999833 USD

-0.02%

dogecoin
dogecoin

$0.166175 USD

-3.43%

cardano
cardano

$0.652521 USD

-3.00%

tron
tron

$0.236809 USD

-0.59%

toncoin
toncoin

$3.785339 USD

-5.02%

chainlink
chainlink

$13.253231 USD

-3.91%

unus-sed-leo
unus-sed-leo

$9.397427 USD

-0.19%

stellar
stellar

$0.266444 USD

-1.00%

sui
sui

$2.409007 USD

1.15%

Cryptocurrency News Articles

Terra Suffers Another Security Exploit, Draining $4M Worth of Tokens

Aug 05, 2024 at 04:06 pm

Just when you thought Terra couldn't catch a break, this happens. It's like déjà vu for Terra, reminding us of its troubled past.

Terra Suffers Another Security Exploit, Draining $4M Worth of Tokens

Terra blockchain vulnerability exploited, draining over $4 million in tokens

The Terra blockchain encountered a security exploit on Wednesday, leading to the theft of tokens valued at over $4 million.

This incident, highlighting a critical vulnerability in Terra's system, has brought to light the troubled past of the blockchain. Here's a closer look at what transpired:

"It's like watching a bank robber use the front door key that was left under the mat," stated Tobi Opeyemi Amure, an analyst at Tradequotex.com, regarding the vulnerability. "This critical vulnerability was previously discovered, patched, and then somehow managed to slip back into the codebase."

The attacker exploited a vulnerability in the "IBC hooks," enabling them to manipulate the blockchain's logic, tricking it into repeatedly granting them tokens.

This vulnerability, discovered back in April, was believed to have been fixed by Terra. However, it resurfaced during a June upgrade, allowing the attacker to siphon off these tokens.

The Terra team swiftly intervened, halting the blockchain and rallying validators to deploy an emergency patch, ultimately stopping the attacker by 04:19 UTC.

This incident evoked a sense of déjà vu for those familiar with Terra's past tribulations. The Terra/Luna collapse of 2022 wiped out approximately $40 billion in value, leaving a lasting impact on the crypto landscape. While this latest exploit resulted in a smaller loss compared to that incident, it nonetheless tarnishes Terra's reputation.

The brunt of the impact fell upon holders of ASTRO tokens, witnessing a 56% drop—a drastic shift that could leave any crypto trader reaching for the Dramamine. Meanwhile, Terra's LUNC tokens experienced a 3.4% decline, adding another setback to a project attempting to rebuild trust.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Apr 04, 2025